As the e-commerce industry continues to grow at an unprecedented pace, businesses are facing new challenges, including the ever-present threat of fraud. One of the most damaging forms of fraud is first-party related chargeback and dispute claims, which can result in significant losses for businesses and hinder their growth.
Chargeback fraud occurs when a customer disputes a transaction on their credit card and claims that they did not authorize the charge. Dispute claims are similar, but instead of being initiated by the customer, they are initiated by the merchant or the payment processor. In both cases, the business is left with the responsibility of proving the validity of the transaction, which can be a time-consuming and costly process. To complicate matters further, first-party fraud cannot be detected at checkout like other forms of fraud, making it all the more challenging for businesses to protect themselves from losses.
At Cylabs UK, we understand the unique challenges facing e-commerce businesses and are dedicated to providing a solution that is both effective and affordable. Our team of specialists combines the power of advanced data analysis with the expertise of human investigators to provide a comprehensive solution to first-party fraud.
The Cylabs Fraud Falcon is a proprietary tool that is used to aid our human investigators in capturing and analysing evidence. It enables us to take a targeted and effective approach to tackling the problem of first-party fraud by analysing large datasets to identify patterns and anomalies that may indicate fraud. This information, combined with the expertise of our human investigators, enables us to detect and investigate suspected fraud cases.
Reactive first-party fraud investigations allow us to respond to false or misleading chargeback and dispute claims once they have occurred, giving businesses the peace of mind they need to succeed. Our solution is cost-effective, giving businesses the chance to grow and succeed with confidence, knowing that their finances are protected from the damaging effects of fraud.
In conclusion, first-party related chargeback and dispute claims are a growing concern for e-commerce businesses. At Cylabs UK, we believe that all businesses deserve the chance to succeed, regardless of size, and we are committed to providing a solution that is both effective and affordable. Trust us to have your back when it comes to tackling the issue of first-party fraud, so that you can focus on growing your business with confidence.
